Islamabad, Oct 9: Pakistan and Saudi Arabia to Sign 30 Investment Agreements Worth $2 Billion
The national government is set to sign approximately 30 investment pacts with the Saudi delegation, which is commencing its visit to Pakistan today, according to sources from the Commerce Ministry.
These pacts will encompass areas such as agriculture, information technology, construction materials, petroleum, and energy. The delegation will also address issues related to food security, meat exports, and the export of Pakistani rice.
Sources indicated that current agreements concerning mining, oil refineries, and railways will be evaluated with Saudi partners.
The framework for these investment pacts has already been established.
Saudi Arabia is projected to invest more than $5 billion in Pakistan by 2027, with an initial investment agreement of $2 billion.
This will include a $1 billion input from the Saudi private sector in the first phase.
Saudi enterprises are also intending to appoint local representatives in Pakistan to boost the investment volume.
Additional meetings, including one between Pakistani officials and the Saudi Fund for Development, have also been arranged to assess regulatory approvals and the advancement of necessary NOCs, sources mentioned.
